The bookkeeping software company Xero recently released a report, available here, which shows that “millennial” business owners are unhappy with their accountants — 50% are unhappy and are looking to switch to someone else, 33% say they only “receive insights” twice a year at most, and 20% say they would NOT recommend their advisor to […]
First of all if one were to really dig into ways to reform the tax system in this country, there are MANY things one could come up with. This particular wish of mine is 1) not the most important reform, and 2) not realistic anyway. It’s simply something I felt like writing about. I perfectionist […]
I have decided to make this a running feature on my blog, to show just how hard taxes are. I am regarded as a “tax expert” and present CPE courses to other tax pros almost every day. Yet I learn new things multiple times a day, EVERY DAY (even on days I choose to check […]
One time, someone (who is not a client) said to me: “I get paid as a 1099 consultant, but my CPA has it all run through my LLC so I don’t have to pay taxes on it.” Another time I took over as the tax preparer for an S-corp — a one-owner, service-based business where […]
I HATE being called a tax expert.
In my experience, there are 4 things that determine if a small business will survive.
Something I always wonder: when a client claims to be unhappy with how their tax return turned out, and so they go somewhere else, what ends up happening with that client? How do they react when the other preparer inevitably tells them the same thing I told them? This past season, I had something happen […]
It’s time for my annual look back on how the tax season went. Unlike the last 3 seasons, I don’t have a lot to complain about.
I think tax reform will be a mixed bag for preparers … those of us who deal with average folks will likely be hurt, while the firms that deal mainly with businesses will likely benefit.